Mayor of Miami has invested in Bitcoin and Ethereum

Miami Mayor Francis Suarez announced personal investments in Bitcoin and Ethereum.

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According to the mayor, hedecided to buy cryptocurrencies immediately afterafter the US Senate approved a $ 1.9 trillion stimulus package in early March. This, he said, is a sign of the inevitability of inflation in the future.

“At that moment, I already knew that inflation was inevitable and that there had to be some kind of hedge,” Suarez told CNBC.

After the approval of new measures to support the economyBitcoin continued to rally until it reached its current high of about $ 65,000. Subsequently, the price of the cryptocurrency rolled back to $ 30,000. Suarez says that he has not yet seized the opportunity to build up his position.

“I haven't bought on a pullback yet, but I plan to do so. I was just very busy, too much work, ”he explained.

The mayor agreed that his earlier reports ofplans to bitcoinize Miami could push the cryptocurrency market up. In this, he sees a sign of the immaturity of bitcoin as an asset, the trading of which has not yet stabilized.

“The video about what we are doing in the city has become the mostviewed from all that I have ever downloaded. It also testifies to an incredible number of people interested in cryptocurrencies. I have heard reports that they are being held by 100-150 million people, ”he added.

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